CMB.TECH pockets $29m gain from veteran suezmax disposal

CMB.TECH has strategically capitalized on the current strength of global tanker asset values by completing the sale of a 2007-built suezmax vessel. The Belgian shipping group, controlled by the Saverys family, confirmed a significant capital gain of $29.2 million from this divestment. This move reflects a broader industry trend where owners are offloading older tonnage to optimize fleet age profiles while market prices for mid-sized crude carriers remain elevated, impacting fleet deployment strategies across major international trading routes.

The disposal of aging suezmax tankers is increasingly driven by stringent international environmental mandates, specifically the IMO’s Carbon Intensity Indicator (CII) and the Energy Efficiency Existing Ship Index (EEXI) under MARPOL Annex VI. As vessels approach the two-decade mark, compliance with SOLAS Chapter II-1 regarding structural integrity and the rigorous requirements set by classification societies like DNV or Lloyd’s Register becomes cost-prohibitive. For compliance departments, these divestments serve as a risk-mitigation strategy to avoid potential port state control detentions and maintain high-tier operational standards.

For masters and chief engineers, the turnover of older tonnage necessitates a heightened focus on handover procedures and technical documentation. As these veteran vessels exit the fleet, navigating officers must ensure that all electronic chart updates and logbooks are finalized according to company SMS protocols. Seafarers transitioning to newer, more technologically advanced vessels should prioritize familiarization with modern ballast water management systems and updated engine room automation to maintain operational efficiency and safety compliance.